Tuesday, March 17, 2009

A solution to the AIG debacle

What the government should do, since they own a large stake in AIG is exercise their rights as the principal stockholder and force the board to have all those executives requiring bonuses to be summarily fired. The BBC was correct when one commentator on there said that the going word around Wall Street was that the management of AIG should "seek psychiatric counseling." The Good Senator from Iowa is right on the mark! I think either choice is too good for them. These very persons who put us in this mess in the first place are going to get bonuses for their actions?!?! I don't know about you, but if I owned a business and someone lost money, a bonus would be the last thing I would pay him. He'd be on the unemployment line.

Its a sad commentary on American business that we are rewarding failure. Yes, these people that basically drove this company into the ground are to be rewarded for remaining on the job at the very least. Sorry, that doesn't cut it with me. A "retention bonus" for someone who screwed my company up is not sound business practice. He probably would be better working for my competitor since he will run that competitor into the ground while the good people that are sound business men run my company competently. These incompetents deserve nothing but a pink slip. They should be given the boot, post haste.

Perhaps that is what is wrong with American business is that we have lost touch with what is sound practice. Those days need to return if trust is to be restored in the financial system. Right now, my money will be removed from the banks since those weasels are not to be trusted with my money. At this point, a mattress seems the safest place to place my money.

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I am interested in CNG vehicles because they are good for the environment and aren't powered by dead Marines. I still have a little hope for the world. Read the musings and enjoy.